Icahn Challenges Motorola on Handheld Strategy
March 27, 2008
The activist investor stirs the shareholder pot, blasts Moto's recently appointed CEO and pushes for new board members.
Motorola stockholder and longtime critic Carl Icahn is seeking answers about the company's floundering performance, filing a lawsuit earlier this week seeking documents related to Moto's beleaguered mobile device division.
In a letter to shareholders, made public on Monday before the stock markets opened, Icahn called for Motorola meeting minutes detailing how the company's board of directors selected its mobile unit's executives, and other documents specifying the company's strategy for its troubled handset business.
He also nominated a slate of four candidates for the company's board of directors.